Africa Competitiveness Report
The fifth edition of The Africa Competitiveness Report (ACR), a joint biennial publication produced by the African Development Bank (AfDB), the Organisation for Economic Cooperation and Development (OECD), the World Bank (WB) and the World Economic Forum (WEF), was released in Cape Town, South Africa, during the World Economic Forum for Africa on Thursday, June 4, 2015.
The biennial report, themed “Transforming Africa’s Economies”, combines detailed data from the Forum’s Global Competitiveness Index (GCI) with studies on three key areas of economic activity; agricultural productivity, services sector growth and global and regional value chains. The data points to low and stagnating productivity across all sectors: agriculture, manufacturing and services, partly as a result of ongoing weakness in the basic drivers of competitiveness, such as institutions, infrastructure, health and education. This shortfall masks a better performance in other areas of the economy; specifically, better functioning of labour and goods markets.